Insider Buyers: Texas Capital Bancshares, Inc. (NASDAQ: TCBI) Insider buys 4,173 shares
Texas Capital Bancshares, Inc. (NASDAQ: TCBI) insider Timothy J. Storms purchased 4,173 shares of Texas Capital Bancshares in a trade dated Thursday, September 2. The shares were purchased at an average price of $ 59.83 per share, for a total value of $ 249,670.59. After the purchase was completed, the insider now owns 7,717 shares of the company, valued at approximately $ 461,708.11. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
TCBI traded at $ 0.32 during Friday trading hours, reaching $ 59.87. 1,759 shares were traded, for an average volume of 695,937. The share has a 50-day simple moving average of $ 64.04 and a 200-day simple moving average of $ 69.26. Texas Capital Bancshares, Inc. has a 12-month low of $ 29.44 and a 12-month high of $ 93.26. The stock has a market cap of $ 3.03 billion, a price-to-earnings ratio of 12.38 and a beta of 1.83. The company has a leverage ratio of 1.04, a current ratio of 1.09, and a quick ratio of 1.09.
Texas Capital Bancshares (NASDAQ: TCBI) last released its results on Tuesday, July 20. The bank reported earnings per share of $ 1.31 for the quarter, beating Thomson Reuters consensus estimate of $ 1.21 by $ 0.10. Texas Capital Bancshares recorded a return on equity of 9.64% and a net margin of 23.37%. The company posted revenue of $ 227.10 million for the quarter, compared to analysts’ estimates of $ 240.67 million. During the same period last year, the company made a profit of $ 0.82 per share. The company’s revenue for the quarter was down 19.3% year-on-year. Sell-side analysts expect Texas Capital Bancshares, Inc. to post EPS of 4.97 for the current year.
Several equity analysts recently commented on the company. Hovde Group upgraded Texas Capital Bancshares from an “outperformance” rating to a “market performance” rating in a research note Thursday. Truist downgraded Texas Capital Bancshares from a “custody” rating to a “buy” rating and raised its target price for the company from $ 73.00 to $ 85 in a research note on Tuesday, May 11. Wedbush downgraded Texas Capital Bancshares from an “outperforming” rating to a “neutral” rating in a research note Thursday. Raymond James reduced his target price on Texas Capital Bancshares from $ 78.00 to $ 75 and established an “outperformance” rating for the company in a research note Thursday. They noted that the move was an appraisal call. Finally, Stephens reduced his price target on Texas Capital Bancshares from $ 77.00 to $ 75 and set an “overweight” rating for the company in a research note on Thursday, July 22. An equity research analyst rated the stock with a sell rating, six assigned a conservation rating, and six assigned a buy rating to the company. According to MarketBeat, the company currently has an average “Hold” rating and a consensus target price of $ 72.36.
A number of hedge funds and other institutional investors have recently changed their holdings to TCBI. FMR LLC increased its position in Texas Capital Bancshares by 178,572.6% in the first quarter. FMR LLC now owns 150,085 shares of the bank valued at $ 8,194,000 after purchasing an additional 150,001 shares during the period. Strs Ohio increased its position in Texas Capital Bancshares by 69.6% in the first quarter. Strs Ohio now owns 3,900 shares of the bank valued at $ 276,000 after purchasing an additional 1,600 shares during the period. Convergence Investment Partners LLC acquired a new stake in Texas Capital Bancshares in the first quarter for a value of $ 102,000. Virginia Retirement Systems ET AL acquired a new stake in Texas Capital Bancshares in the first quarter valued at $ 213,000. Finally, State of Michigan Retirement System increased its stake in Texas Capital Bancshares by 1.6% in the first quarter. The Michigan state pension system now owns 18,661 shares of the bank valued at $ 1,323,000 after purchasing an additional 300 shares during the period.
Texas Capital Bancshares Company Profile
Texas Capital Bancshares, Inc. is the holding company for Texas Capital Bank NA. It provides commercial banking services to clients in Texas and focuses on mid-market business ventures and successful professionals and entrepreneurs. The firm loan portfolio includes commercial loans, real estate loans, construction loans and letters of credit; business deposit products include commercial chequing accounts, safe deposit boxes, cash concentration accounts and other cash management services, including an online system; trust and wealth management services include investment management, personal trust and estate services, custodial services, retirement accounts and related services.
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